11th Aug 2015 06:44
LONDON (Alliance News) - Construction and support services company Carillion PLC on Tuesday said its The Hospital Co joint venture has been named preferred bidder for the GBP430 million Midland Metropolitan Hospital public-private partnership project.
The FTSE 250-listed company said the joint venture has been selected as the preferred bidder on the project, which will involve the construction of a 670-bed, 15-operating-theatre-suite hospital in west Birmingham.
Carillion expects to invest around GBP16 million in equity in the project, which will be built by the company at a capital cost of GBP297 million. It also will provide facilities management and life-cycle maintenance services for the hospital, which is expected to generate for it around GBP140 million in revenue over the course of the 30-year concession.
Financial close on the project is expected around the end of 2015, with construction to start in early 2016 and completion scheduled for mid-2018.
"We look forward to working with the Sandwell and West Birmingham Hospitals NHS Trust to deliver a state-of-the-art facility that will enable the Trust to achieve its objectives for delivering significant improvements in healthcare services for the people of Sandwell and West Birmingham," said Richard Howson, Carillion's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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